Govt to bolster start-up innovation through sector reforms
NAIROBI, Kenya, June 4 - The government is ramping up efforts to strengthen the country’s start-up ecosystem, with a renewed focus on capacity building Kenya breaking news | Kenya news today |..
✨ Key Highlights
The Kenyan government is enhancing its support for the country's start-up ecosystem through renewed efforts in innovation and capacity building. This initiative aims to stimulate economic growth and commercialize innovation opportunities.
- Kenya National Innovation Agency (KeNIA) CEO Tonny Omwansa emphasized the importance of collaboration among various stakeholders in the ecosystem.
- The launch coincided with the Kenya Start-up Festival, aimed at celebrating ten years of innovation and facilitating new partnerships.
- KeNIA is considering a centralized portal for start-ups to submit ideas for potential government support, streamlining access to resources and mentorship.
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Business Trends and Economic Developments
Private sector activity slowed in May as demand and new orders decreased. Kenya's flower exports are expected to increase in 2025 due to growing demand. BK Group reported a 5.4% rise in profit after tax. The government announced plans to support start-up innovation through reforms, while Treasury hinted at restructuring the affordable housing levy.
